6 Traits of High Performing Pricing Managers
- 1. BLACKCURVE 1 6 Traits of High Performing Pricing Managers
- 2. BLACKCURVE www.blackcurve.com @blackcurveHQ GET SMARTER AT PRICING BlackCurve helps businesses fine tune their pricing
- 3. BLACKCURVE 3 Main DuIes of a Pricing Manager Customer Pricing Price Evalua3on Price Tests & Modelling Market Segmenta3on Communica3on Pricing Strategy
- 4. BLACKCURVE 4 A strong vision for what you want to accomplish for the company in the short and long term and an ability to arIculate this vision across mulIple plaLorms and communicaIons channels. Trait 1: Vision
- 5. BLACKCURVE 5 Trait 2: Strategic Thinking With the markeIng manager, be able to develop a markeIng strategy that is in line with the overall business strategy and ‘think’ strategically in all aspects of markeIng. A Pricing Manager needs to have a firm understanding of market trends and be able to develop a targeted pricing strategy to meet company goals. Pricing specialists should also employ pricing strategies that meet their company's standards, policies and procedures. They must also ensure that all salespeople and markeIng employees comply with any pricing changes.
- 6. BLACKCURVE 6 Trait 3: Business Acumen The Pricing Manager must understand and deliver on the overall company business plan. This means understanding the fundamentals and influencers of business, knowing the market, what makes it Ick, how it is going to develop, change and evolve. If you get the pricing right you can drive business and improve growth through innovaIve business soluIons.
- 7. BLACKCURVE 7 Trait 4: Be Customer Centric A successful Pricing Manager needs to understand the customer, their traits, likes, dislikes, drivers and willingness to pay for the products their business offers. All high level level pricing experts walk in their customers shoes regularly to understand how it feels to be the customer. They take on board feedback from the markeIng department and adapt product prices accordingly. They should be aware of just who the target customer is and how much money the customer generally has to spend.
- 8. BLACKCURVE 8 Trait 5: Personality You don't have to be larger than life in this role but you should be straight-‐ forward and a strategic planner. Be on top of your game, innovaIve and confident. Remember also, you need to be flexible in your approach . Be confident and competent – but leave your ego behind the moment you enter the office!
- 9. BLACKCURVE 9 Trait 6: Leadership & CommunicaIon Pricing specialists may be responsible for ensuring the producIvity and efficiency of a team, as well as enforcing policies and procedures. It also helps if you are a good communicator with excellent inter-‐personal skills, comfortable working both in a team and independently. If you work in a team you have to be a role model for your team members. Like any other manager, a Pricing Manager is successful only when he is a strong source of inspiraIon and moIvaIon for his team members. You must frequently communicate with senior management to acknowledge successes, solve problems and move forward.
- 10. BLACKCURVE 10 Summary Pricing Managers should have the ability to see problems in the wider context. This is known as the ‘helicopter factor'. Ask yourself: Where are we now? Where do we want to be? How do we get there? Which way is the best? Answer quesIons about the compeIIon, product or service ranges, market share and financial posiIon. Supports senior management in formulaIng strategies and sefng financial targets for the company. Supports in evaluaIng routes to overcome difficulIes while trying to go all out towards success. Underlines one or two routes most suitable for achieving goals. It does require adequate financial back-‐up as well. A cycle of continual optimisation
- 11. BLACKCURVE PRICE MANAGEMENT AND CONFIGURE PRICE QUOTE (CPQ) SOFTWARE Perfect for businesses who are over reliant on spread sheets to manage their pricing. Perfect for companies wishing to reap the rewards from more advanced pricing strategies to grow their profitability. Perfect for organisaIons seeking to opImise their prices. Meet BlackCurve 11 PRICE MANAGEMENT & OPTIMISATION An easy to use soluIon to implement and fine tune your pricing. CONFIGURE PRICE QUOTE (CPQ) A quoIng system for complex products, pricing or channels.
- 13. BLACKCURVE STATEMENT OF CONFIDENTIALITY AND LIMITATION This document is proprietary to BlackCurve SoluIons Limited and is subject to management approval. Legal & ConfidenIality 13